ONEOK (OKE) Stock Rating Reaffirmed by Mizuho

Mizuho reiterated their hold rating on shares of ONEOK (NYSE:OKE) in a research note published on Tuesday morning. They currently have a $61.00 target price on the utilities provider’s stock.

OKE has been the topic of several other research reports. Zacks Investment Research upgraded shares of ONEOK from a hold rating to a strong-buy rating and set a $65.00 price target on the stock in a research report on Tuesday, October 17th. Royal Bank of Canada upgraded shares of ONEOK from a sector perform rating to an outperform rating in a research report on Tuesday, January 16th. Credit Suisse Group initiated coverage on shares of ONEOK in a research report on Monday, January 8th. They set an outperform rating and a $62.00 price target on the stock. Stifel Nicolaus reiterated a hold rating and set a $54.00 price target on shares of ONEOK in a research report on Thursday, October 12th. Finally, BMO Capital Markets set a $62.00 price target on shares of ONEOK and gave the company a buy rating in a research report on Wednesday, October 18th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $60.07.

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ONEOK (NYSE:OKE) opened at $60.15 on Tuesday. ONEOK has a 52-week low of $47.14 and a 52-week high of $61.36. The stock has a market cap of $23,060.00, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.26. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. equities research analysts expect that ONEOK will post 1.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Friday, January 26th. This is a boost from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s dividend payout ratio is 186.25%.

In other ONEOK news, Director Brian L. Derksen acquired 1,800 shares of the business’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $51.00 per share, for a total transaction of $91,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Ropes Wealth Advisors LLC purchased a new stake in ONEOK in the second quarter worth about $103,000. Winslow Evans & Crocker Inc. grew its holdings in ONEOK by 462.9% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,620 shares during the period. Mercer Capital Advisers Inc. lifted its stake in shares of ONEOK by 229.8% in the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock worth $110,000 after buying an additional 1,379 shares in the last quarter. Enterprise Financial Services Corp lifted its stake in shares of ONEOK by 332.8% in the third quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock worth $126,000 after buying an additional 1,744 shares in the last quarter. Finally, Fieldpoint Private Securities LLC bought a new position in shares of ONEOK in the third quarter worth approximately $150,000. Institutional investors and hedge funds own 66.22% of the company’s stock.

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About ONEOK

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.